On Monday, stocks moved up higher on Wall Street after President Donald Trump agreed to hold off on raising tariffs on Chinese goods, which would have escalated a trade war between two of the world’s largest economies.
Investors had been growing optimistic that the U.S. and China were moving closer to resolving their dispute. The dispute over U.S. complaints that Beijing steals technology or pressures companies to hand it over. Banks and technology stocks accounted for much of the gains, while consumer goods and utility companies lagged the overall market.
China faced a March 2 deadline when the U.S. would have increased punitive duties on $200 billion worth of Chinese imports.